Glenn Beck: Putting Together the Pieces




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The problem with the media is that they cover important stories individually, but they haven't put it all together like a puzzle. For instance, there are a few more stories that they're covering separately, but they should put them together.

Let me show you what I mean:

On Monday, President Obama hosted an economic summit where he talked about trying to cut the current deficit from $1.3 trillion to $533 billion by the end of his term. That story doesn't make sense. He just doubled the deficit and now he's going to cut it in half?

Unless you understand the next puzzle piece: While Obama was spending $787 billion here at home, Hillary Clinton went to China hat in hand to convince them to keep buying our debt. She said, "We are truly going to rise or fall together." This story made the rounds, but unless you know the next story it also doesn't make sense.

Last week, one of China's leaders revealed that Hillary Clinton is exactly right and he can't stand it. He was so frustrated about our financial mismanagement that he said — and this is an actual quote — "We hate you guys but there's nothing much we can do."

So now the last piece: Gold is hovering around a $1,000 an ounce, which is within striking distance of a record.

That means one of two things: Either people don't trust that the dollar is going to keep its value due to our spending or they don't believe that the U.S. can stop the inevitable consequence of running our printing presses 24/7 — which is massive inflation.

Put this puzzle together and the picture becomes clear: Time is running out and the key to it all is China.

Here's why I say that:

China currently owns about $700 billion worth of our Treasury bonds — by far the most in the world. And though the Chinese haven't said that they'd completely stop buying our debt, they did say they would only keep it up as long as the bonds continue to offer the best combination of value, low risk and liquidity.

That's why the economic summit was held today, why Hillary Clinton went to China and why the price of gold is high.

Most economic experts say that China has to keep buying our debt — at least in the short-term — because it protects their investment. And while there might be some truth to that, I don't have much faith in the so-called "economic experts" anymore.

So now China has a decision to make: When do they cut their losses and decide to stop throwing good money after bad?

Our decision: When do we change our behavior?

What do you think? Send your comments to: glennbeck@foxnews.com

- Watch Glenn Beck weekdays at 5 p.m. ET on FOX News Channel


 

Glenn gives the latest coronavirus numbers, updating YOU on everything needed to know as Americans and officials monitor China's new COVID-19 virus:

Daily Stats as of 5:30 AM CT (from John's Hopkins)

  • Total Confirmed Cases Worldwide: 799,995 (up from 735,135 Yesterday)
  • Total Confirmed Deaths Worldwide: 38,735 (up from 34,807 Yesterday)
  • Total Confirmed Recovered Worldwide: 169,995 (up from 155,950 Yesterday)
  • 5% of Active Cases are considered serious (requiring hospitalization) Steady from 5% Yesterday, but down from 19% high back in February
  • Note that 11% of US Confirmed Cases require Hospitalization, roughly on par with Italy at 12% requiring hospitalization
  • US has 164,359 Confirmed Cases and 3,173 Deaths, up from 142,746 cases and 2,489 deaths Yesterday
  • The United States of America now leads the world in total confirmed cases, with 63,000 more cases than Italy (although Italy leads the world in Deaths with 11,591 officially dead)
  • US has 3,173 Dead vs 5,507 Recovered and 3,512 in Critical Condition
  • The US Currently has 155,679 Active Cases of COVID-19, with less than 0.6% of the total US population tested
  • 15% of Americans who have been tested have been diagnosed with COVID-19
The Moment of Trump's Conversion: Dr Anthony Fauci Takes Full Responsibility https://dailycaller.com/2020/03/30/anthony-fauci-moment-donald-trump-realized-extend-social-distancing-mandate/
  • Dr Anthony Fauci, the Chief Medical Advisor to the coronavirus task force, explained on CNN that Trump listened and "got it right away" after being shown new data projecting as many as 3 Million deaths in the US if COVID-19 mitigation policies were lifted.
  • Fauci also said Trump's "first goal is to prevent suffering and death" and this was part of the reason why he knew the COVID-19 guidelines should be extended.
  • "You know, interestingly, we showed him the data, he looked at the data and he got it right away, it was a pretty clear picture," according to Fauci.
  • "Dr. Debbie Birx and I went in together and leaned over his desk and said 'Here is the data, take a look.'
  • Trump reportedly looked at them, understood the implications and he shook his head and said 'I guess we got to do it.'
  • "Medically, this is the right decision, and I stand behind it 100%," Fauci said.
  • "From a public health standpoint, we felt strongly that it would have been the wrong decision to pull back," Fauci said. "I mean, we are scientists, physicians, public health officials. We're not economists. We're sensitive to the idea that the economy could suffer, but weigh that against tens of thousands, hundreds of thousands of American lives."
  • "...it was patently obvious looking at the data that at the end of the day if we try to push back prematurely, not only would we lose lives, but it probably would hurt the economy as well. So you would lose on double accounts. So, to us, there was no question what the right choice was."
Washington DC, Virginia, Maryland Join States Issuing House Arrest Orders https://www.cnbc.com/2020/03/30/coronavirus-violators-of-marylands-stay-at-home-order-face-criminal-charges.html
  • Maryland and Virginia became the latest states on Monday to enact "stay-at-home" mandates amid the coronavirus outbreak, except for essential travel for work.
  • Virginia's order is in effect until June 10, making it one of the longest statewide mandates implemented so far.
  • Maryland's penalties for violating its order are among some of the strictest in the country, including a $1000 fine, and up to 30 days jail time for repeat offenders.
  • In total, more than 210 Million Americans now effectively live under some form of House Arrest or Shelter In Place type orders, with another, 50 Million facing travel or shopping/eating restrictions.
  • Only 6 states have not closed schools.